ADB supports financial inclusion in Myanmar
Maybank and ADB signed the agreement on 30 April 2018 in Singapore to promote $20 million equivalent of new loans to micro-borrowers in Myanmar. Maybank is a new partner under ADB's Private Sector Operations Department's microfinance risk participation and guarantee program. The regional program so far has supported over $640 million of new loans to more than 3.5 million borrowers, mainly women.
ADB Wins 2018 Global Trade Review's Leaders in Trade Award
ADB, through its Trade Finance Program, won the Best Development Bank in Trade award at the 2017 GTR Charity Awards Dinner held 26 April. The awards highlight excellence in the trade, commodity, supply chain and export finance, and fintech markets. Read more.
ADB provides $10 million in trade loans to Viet Nam
Through ADB's Trade Finance Program (TFP), Orient Commercial Bank of Viet Nam received an additional $10 million to support trade. Since 2010, TFP has supported $9.1 billion in trade through over 7,000 transactions in Viet Nam, 72% of which backed small and medium-sized enterprises. TFP works with 13 commercial banks in Viet Nam.
VP Gupta discusses private sector clean energy partnerships in Iceland
VP Gupta met Icelandic business leaders and government officials on 20-22 March in Reykjavik to discuss strengthening clean energy partnerships in Asia. He gave a lecture at the UN University Geothermal Training Program on ADB's clean energy strategies, and visited geothermal sites including electric power, district heating, and geothermal-based manufacturing and aquaculture.
ADB wins Asia Pacific DFI, wind deal of the year awards
Michael Barrow, Director General of ADB's Private Sector Operations Department, and staff attended the Infrastructure Journal Asia Pacific awards ceremony on 21 March in Singapore. ADB won the Development Finance Institution (DFI) of the year award and the ADB-financed 150MW Tricon Boston Consulting Project in Pakistan won the Asia Pacific Wind deal of the year award.
ADB signs loan agreement for southern Thailand waste-to-energy project
ADB and Gulf Chana Green signed a local currency loan agreement on 16 February for THB 1,109 million to support a 25MW biomass waste-to-energy power plant in southern Thailand. ADBs assistance will help provide an environmentally sustainable solution to the abundant agricultural waste that is produced from farming and wood industries by converting biomass into a renewable source of electricity.
ADB supports Uzbekistan trade with new partner bank
ADB's Trade Finance Program (TFP) brings in Aloqabank as its sixth partner bank in Uzbekistan through a $5 million loan agreement signed on 14 February. To date, TFP has supported trade in Uzbekistan worth $1.3 billion covering various sectors.
ADB's Myanmar project receives Deal of the Year award
The Myingyan Natural Gas Power Project, a 225 MW combined cycle gas turbine project with the first international best practice project financing in Myanmar, received the Asia Pacific Power Deal of the Year 2017 from Project Finance International on 7 February in London. ADB, through the Private Sector Operations Department, provided a package of A loan, B loan, and political risk guarantee as an anchor lender and guarantor to this milestone PPP project.
ADB holds private sector outreach in Mongolia
Mongolia Minister of Finance and ADB Governor Khurelbaatar Chimed and Deputy Prime Minister Enkhtuvshin Ulziisaikhan met with Indu Bhushan and Michael Barrow, Directors General of ADB's East Asia Department and Private Sector Operations Department, respectively, on 22 January in Ulaanbaatar to discuss measures to improve portfolio management, expedite project implementation, and identify opportunities for private sector support. The delegation also launched a private sector outreach workshop to introduce ADB's private sector operations focus and added value, support for infrastructure development, agribusiness, and access to finance to promote affordable housing.
Trade Finance Program trains bankers in Pakistan
ADB's Trade Finance Program (TFP) delivered training on 10 January in Karachi and on 12 January in Lahore for 80 bankers. Training was held in conjunction with the Institute of Bankers Pakistan. Since 2008, TFP has supported more than $12.16 billion in trade in Pakistan through 4,155 transactions.